Crude Futures Push Higher in Asia Breaking $34 Handle
- Crude futures have continued higher well into the Asian session after yesterday’s quiet session within London which saw prices range around the mid-$33 level.
- Prices did see a strong pullback heading into the Friday session last week, however, did see prices push back into the later part of the day as markets moved into the US session before seeing the close for the weekend.
- Despite Friday’s early pullback, prices have continued higher well into the Asian session with front month WTI July contract pushing past the $34 handle in today’s session within Asia.
- Much of this push higher has been on returning demand to oil markets coupled with data being released showing nations matching previously stated production cuts.
- Prices did see a strong pullback heading into the Friday session last week, however, did see prices push back into the later part of the day as markets moved into the US session before seeing the close for the weekend.
- Despite Friday’s early pullback, prices have continued higher well into the Asian session with front month WTI July contract pushing past the $34 handle in today’s session within Asia.
- Much of this push higher has been on returning demand to oil markets coupled with data being released showing nations matching previously stated production cuts.